Is Bitcoin going to zero?

[Sparktrader]

1 minute ago, Adumbration said:

Why are you trying to sell me BHP.  Or are you biased because you hold it.  Yes BHP is different from IVZ.

 

By the way, back in the real world I had a consultancy and the last project I completed before retiring was for BHP.

I dont. You claimed miers have no assets or business. $60bn in revenue is some business.

 

A miner or a bank is the same to me. Eps growth, dps growth, pe ratio, div yield. Roe, net profit margin.

 

Same classic measures.

 

Eps growth is the key to long term growth in price.

 

 

 

 

[ukrules]

3 hours ago, Dan O said:

You may want to look up the concept yourself.  You increase value of an "item" by convincing the next guy in line he'll make money by investing also.  There is no real asset behind the item or any govt backing to secure it. its just the hope others will continue to buy and push the price up. Once that stops there's nothing left to attach to retrieve your investment. 

lol, do some learning.

 

 

[Hummin]

50 minutes ago, Walker88 said:

 

To be a good trader one needs to be a cynic.

Often helps to have good connections to

[Thailand]

15 hours ago, Neeranam said:

My expert told me to dollar cost average in at $21,000.

 

When it rises to 200k in 2 years, it won't matter if you bought at 21k or 19k.

 

The same expert told me to DCA when BTC had fallen from 19k to 3k in 2018, great advice. 

I hear the expert bought gold.

[Walker88]

39 minutes ago, Sparktrader said:

I disagree, charts always help.

 

Whats rule no 1 for a low?

 

Higher low

 

2 or 3 higher lows even better.

 

0 1 2 lift off

 

0 1 2 3 lift off

 

2 - ma crossover

 

3 indicator crossover

 

4 volume signal

 

0 - high volume

1 - less volume

2 - less volume

 

Classic chart trading

 

 

Up to you.

 

I traded my way and seemed to do okay, though I could have just been incredibly lucky. I got paid either way, skill or luck.

[Sparktrader]

Just now, Walker88 said:

Up to you.

 

I traded my way and seemed to do okay, though I could have just been incredibly lucky. I got paid either way, skill or luck.

Everything is 50% luck or more.

[Walker88]

13 minutes ago, Hummin said:

Often helps to have good connections to

That is a bit of a fallacy. Everybody thinks 'the other guy' knows more. In certain circumstances, maybe individual equities, that may be true, but generally markets are too big and there are far too many players with opposing interests for anyone to have the upper hand. I remember lots of folks used to think Goldman had lots of info. It was never true. Goldman guys thought Morgan knew, or one of the big funds like Bridgewater or Tudor or Quantum.

 

The only place where the majors have a huge advantage is when they co-locate servers in the same facility as the exchanges, then hire guys who write better code. Billionths of a second pay off. Both JPM and GS have months when their system trade platform never has a losing day.

[bkk6060]

Could go to zero.  Better buy a bunch of Pizzas with it before it does.

[Sparktrader]

13 minutes ago, Walker88 said:

That is a bit of a fallacy. Everybody thinks 'the other guy' knows more. In certain circumstances, maybe individual equities, that may be true, but generally markets are too big and there are far too many players with opposing interests for anyone to have the upper hand. I remember lots of folks used to think Goldman had lots of info. It was never true. Goldman guys thought Morgan knew, or one of the big funds like Bridgewater or Tudor or Quantum.

 

The only place where the majors have a huge advantage is when they co-locate servers in the same facility as the exchanges, then hire guys who write better code. Billionths of a second pay off. Both JPM and GS have months when their system trade platform never has a losing day.

20 year chart imo is the best guide.

 

I like using a 15 year linear regression. Std dev 1, 1.5,2.0,2.5.

 

Combine that with an indicator - true strength is good.

 

Confirmation daily 4,9,20 emas.

 

Stop loss 4 and 9.

 

 

[owl sees all]

I was gonna buy a load of land in the Meta-verse. I already have 30 NFTs. But now - with the Bitcoin at such an inviting price I'm thinking that the correction might be finished and now is the time to step in.

 

Max Keiser thinks that it was the big boys getting involved, that drove the price unrealistically high, and they are now getting cold-feet; hence the current price. Or was it all planned for the investor to lose confidence.

 

I'm tempted at the current price. Might wait for 15k. Really not sure at the moment. But I don't think I'll sell any gold to buy crypto.

Edited June 19, 2022 by owl sees all

[Hummin]

1 hour ago, John Drake said:

Neeranam must be the happiest person on AN right at this moment. Bet he's buying hand over fist.

And he was not even a believer in the beginning either. Took him awhile to become religious. 
 

Bitcoin is all about how many is believers, and how many have the faith in Bitcoin, as long the only control of the coin is those who is willing to take the risk at any time continue buying, it will go up again at once the price is right again, and some will make money again junmp in low, get out higher.

 

As far as I know, there is no one who can unplug BTC, unless something better comescslong and take over and become the new big thing for those who is risk players. 
 

 

[Hummin]

7 minutes ago, owl sees all said:

I was gonna buy a load of land in the Meta-verse. I already have 30 NFTs. But now - with the Bitcoin at such an inviting price I'm thinking that the correction might be finished and now is the time to step in.

 

Max Keiser thinks that it was the big boys getting involved, that drove the price unrealistically high, and they are now getting cold-feet; hence the current price. Or was it all planned for the investor to lose confidence.

 

I'm tempted at the current price. Might wait for 15k. Really not sure at the moment. But I don't think I'll sell any gold to buy crypto.

Better to buy land in Isaan the next years in your gf or wife’s name for the future. To me it seems like less risky. 
 

Good quality farm land preferably 

Edited June 19, 2022 by Hummin

[Boomer6969]

Bitcoin is something that happened before, and will happen gain...

[Sparktrader]

54 minutes ago, Walker88 said:

Up to you.

 

I traded my way and seemed to do okay, though I could have just been incredibly lucky. I got paid either way, skill or luck.

0 1  2 3 bearish

[owl sees all]

2 minutes ago, Hummin said:

Better to buy land in Isaan the next years in your gf or wife’s name for the future. To me it seems like less risky. 
 

Good quality farm land preferably 

I hear you Hummin. But have to move with the times. Don't want to be a 'fuddy-duddy' who missed the boat.

 

Can get a girl-friend in the Meta-verse now , and even get married, Don't know about children though. Not sure I'd have the energy needed to look after them now.

 

Buy land (in the real world) and it's a constant worry about rain. Obviously the Meta-verse land is different. But if you buy right, you can charge for access, and rent it out. Unfortunately the currency is crypto. I think I'll wait it out.

[Sparktrader]

Still bearish

[OneMoreFarang]

Enjoy!

 

The Crypto Crash: all Ponzi schemes topple eventually

 

https://www.theguardian.com/technology/commentisfree/2022/jun/19/the-crypto-crash-all-ponzi-schemes-topple-eventually

 

[Sparktrader]

[Sparktrader]

9 minutes ago, OneMoreFarang said:

Enjoy!

 

The Crypto Crash: all Ponzi schemes topple eventually

 

https://www.theguardian.com/technology/commentisfree/2022/jun/19/the-crypto-crash-all-ponzi-schemes-topple-eventually

 

The guardian are experts in IT or investing?

[Hummin]

9 minutes ago, Sparktrader said:

The guardian are experts in IT or investing?

“'You can lead a horse to water but you can't make him drink'”

 

You have all the evidences that BTC is unhealthy, unethical and create creed and losses for most people, and make very few disgustingly rich just by being lucky. It have nothing to do being smart, clever, just lucky. When it goes well, and the correct timing, it is easy to use that to create the hype to make more people buy in to it, and promise skyrocketing rise in new future. How many times will you guys hold on to the wild uncontrolled roller coaster and believe in it? 
 

Btc survive on false promise’s and hope. Thats all, nothing else, its not even just air, its energy consuming and for the time, everything is wrong a out it, still people choose to take the bait unbelievable. 

[Mark Nothing]

I watched all the docom companies go under.  Most of the times no assets remained to make shareholders whole.  Executive bonuses were paid in full, bondholders got pennies on the dollar, shareholders nothing.

 

There is no underlying assets with any value available to make bitcoin holders whole.  Especially if another products is coming to render bitcoin obsolete.

 

The central bankers and governments are working diligently on central bank digital cash.  It would be easy for them to call bitcoin a counterfeit currency and disable it

 

And I am always skeptical when the founder is anonymous and the headquarters address and location is undisclosed. 

[fdsa]

5 minutes ago, Mark Nothing said:

the headquarters address and location is undisclosed. 

i've naturally lol'd here.

 

It's really amusing how every single thread about cryptocurrency gets filled with ppl who have no clue about it but very confident that all cryptos will "go to zero".

[ozimoron]

BTC is testing historical support and no V shaped recovery in sight. I think if it loses 18K then 4K is about where i would start to buy in. BTC isn't going away and many cryptos do have functionality so I think going to zero won't happen.

[Hummin]

6 minutes ago, fdsa said:

i've naturally lol'd here.

 

It's really amusing how every single thread about cryptocurrency gets filled with ppl who have no clue about it.

Its more amusing reading members say that over and over, again and again, obviously not knowing or have any clue themselves what is going to happen with BTC. Nobody knows, except as long its not frozen out by governments, and if manage to keep enough interest and trust, it can go on forever as the rollercoaster it is. Until all trust or interest is gone, and the new “thing” appears. 
 

Most likely a new hype will finely take over. BTC will never be goverment backed, and why should it? 

Edited June 19, 2022 by Hummin

[Hummin]

7 minutes ago, ozimoron said:

BTC is testing historical support and no V shaped recovery in sight. I think if it loses 18K then 4K is about where i would start to buy in. BTC isn't going away and many cryptos do have functionality so I think going to zero won't happen.

What is this functionality the cryptos have, that can not be replaced ? In a few years it will already be old technology and upgraded and replaced with something else. 
 

Cant believe the dot com bubble is so easy to forget.

[ozimoron]

1 minute ago, Hummin said:

What is this functionality the cryptos have, that can not be replaced ? In a few years it will already be old technology and upgraded and replaced with something else. 
 

Cant believe the dot com bubble is so easy to forget.

The dot com technology didn't go away, only the speculation did. The same goes for blockchain technology. It isn't going away either.

[owl sees all]

Once the people that are in it simply to take a profit have got out, those left who believe in the concept will see it slowly move upwards.

 

I think Bitcoin and perhaps Etherium will survive, but the majority of the others will become worthless.

 

Recall the Pattaya coin; Shinecoin? That died a death.

[Stocky]

2 hours ago, Adumbration said:

Anyway.  You are the guy in the hole, not the one standing next to it.

No, I'm the guy in head office.

[Hummin]

2 minutes ago, ozimoron said:

The dot com technology didn't go away, only the speculation did. The same goes for blockchain technology. It isn't going away either.

Thats very true, but how many companies are left from that time? 
 

Apple Amazon and windows barely came through it, but they came through because they had something you needed and wanted and adopted quick enough to come out of it.. Something physical not just nodes and codes told to have a value. Bitcoin have no real value, blockchain might have future value and anyone can use the tech for free, but expensive to develop. 
 

Bit coin have built in limitations and will stagnate eventually. 

[Dan O]

14 hours ago, Sparktrader said:

Stocks are 20% overvalued compared to avg pe ratios

Everyone seems to forget that we had an excellent economy and stock market pre-covid and the dow was at 29000 and unemployment was below 4%. Covid hit and the feds dumped interest rates basically to 0, forcing bond money into stocks and then the govt fed the economy with free money and extra unemployment payments.   Yeah the market has tanked from all those factors over the last year and half but those were an artificial economic condition. It really should be falling 25%  more due to the inflation feed from supply issues and greed,  just my. 02 cents worth